Do You Need a Money Manager?January 31, 2020
Are you considering hiring a Financial Advisor? Recent statistics say most Americans are intimidated by investing their money and tend not to trust the stock market. Find out how enlisting the assistance of a professional can help inform you about the least risky and most high yield ways to make your hard-earned money work for you.
As the idiom goes, money does not grow on trees. So, regardless of how you made your money, either through inheritance or by putting in overtime, saving money for the future is easier if you invest it wisely. While it is kept safely in a bank account, merely stockpiling it in a savings account with a low-interest rate will not yield profitable results.
If you are not particularly a risk-taker and you are looking for a reliable and sound investment, use a Financial Manager to walk you through the ins and outs of certified deposits. CDs require a deposit which must remain untouched for a certain amount of time. If withdrawn before this date a penalty occurs. Discuss the varying amounts of interest rates, capital, and lengths of time with your Financial Advisor to earn the most bang for your buck.
Sometimes it takes money to make money. Real estate investments such as becoming a landlord, flipping houses or purchasing large tracts of buildable land to turn a profit can be tricky. If done without the advice of a Financial Manager, you run a high risk. Turn to an investment firm to find out which type of real estate is trending on the market and discover which land or property is a purchase with a desirable return value.
Planning finances for retirement is increasingly essential since people are living longer than ever before. Medical care for the elderly via assisted living, in-home care, hospitals, and nursing homes is not cheap. To make allowances for these possibilities in your retirement, talk to a Financial Manager to start contributing to an Individual Retirement Account. Not only do they help save money for your golden years, but IRAs also offer significant tax benefits on your taxable funds.
These accounts are available through financial institutions, but if you work for a corporation, either hourly or salary, chances are you can get an IRA or 401k through your job. Find out how by consulting the company's website or by contacting a financial professional in Human Resources via phone or email. Communicating with a person about the best way to invest in your retirement is hugely beneficial because it outlines the company's policy about how to qualify for the maximum amount of money matching.
Anyone who is attempting to save money for later in life can maximize their savings by using a Financial Advisor. When you are ready, make arrangements to meet with one in your area. Because while investing your hundreds, thousands, millions, or billions of dollars, their expertise is truly priceless.